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Real Estate Highlights for 2019 and Suggested Measures

The Canadian Real Estate Association in its recent report stated that home sales in Canadian MLS system climbed 3.6% in January 2019 compared to December 2018, although it was 5.5% lower than the national average price for the past year.

According to another report, the current Toronto MLS statistics issued in February 2019, the real estate sector in Toronto has seen an improvement of 12.8% over the past one month. This was a nice come back from the sale recorded on January 19th when the lowest sale price was noted as $765,982/- during the past one year. This was 1.2% lower than the last lowest price recorded on September 18th.

Current stats indicate an average house price of $838,729 and 3,211 new listings during the past 28 days. Data indicates median days on market for a home is 21 days.

While looking at sales volume by property type, 454 detached, 331 townhouses, and 1025 condos were recorded as sold in the beginning of February 2019. Among the recorded sales over the past three months, the percentage increase in real estate by types were, 4 bedroom detached homes increased to 9%, 3 bedroom townhouses by 7%, and 1 bedroom condo by 10%.

Within GTA, Toronto was noted as the 1st fastest selling and 9th fastest growing city in terms of home sales with an average of 21 days in market.

These stats display a promising future for the real estate sector in Toronto and indicates that its time for buyers and sellers both to start planning. And of course it is considered essential to hire the services of a professional real estate appraiser who can help evaluate the most realistic value of the property.

It is also important for taking some measures for improving the real estate appraisal value. Efforts in improving the curb appeal may help in acquiring a higher real estate value for the home on sale. So whether it is a real estate sale for upsizing or downsizing or in worst case scenarios a divorce settlement, a professional real estate appraisal firm is always a wise choice.

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